At the time of writing, Bank Of New York Mellon Corp [BK] stock is trading at $57.66, up 1.07%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The BK shares have gain 1.85% over the last week, with a monthly amount glided 3.91%, and seem to be holding up well over a long-time horizon.
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On 27, March 2024, BNY Mellon Municipal Bond Closed-End Funds Declare Distributions. In a post published today on Yahoo Finance, BNY Mellon Investment Adviser, Inc. announced today that BNY Mellon Municipal Income, Inc., BNY Mellon Strategic Municipal Bond Fund, Inc. and BNY Mellon Strategic Municipals, Inc. (each, a “Fund”) have declared a monthly distribution for each Fund’s common shares as summarized below. The distributions are payable April 30, 2024 to shareholders of record on April 12, 2024, with an ex-dividend date of April 11, 2024.
From an analyst’s perspective:
Bank Of New York Mellon Corp [NYSE: BK] stock has seen the most recent analyst activity on January 30, 2024, when Morgan Stanley upgraded its rating to a Equal-Weight and also boosted its price target to $62 from $52. Previously, JP Morgan upgraded its rating to Overweight on December 18, 2023, and kept the price target unchanged to $54.50. Wolfe Research upgraded its rating to a Outperform but stick to its price target of $60 on January 04, 2023. Goldman upgraded its rating to a Buy but $59 remained the price target by the analyst firm on January 04, 2023. Morgan Stanley downgraded its rating to Underweight for this stock on December 06, 2022, but kept the price target unchanged to $42. In a note dated October 04, 2022, Citigroup upgraded an Buy rating on this stock but restated the target price of $46.
For the past year, the stock price of Bank Of New York Mellon Corp fluctuated between $39.65 and $57.88. Currently, Wall Street analysts expect the stock to reach $60 within the next 12 months. Bank Of New York Mellon Corp [NYSE: BK] shares were valued at $57.66 at the most recent close of the market. An investor can expect a potential return of 4.06% based on the average BK price forecast.
Analyzing the BK fundamentals
According to Bank Of New York Mellon Corp [NYSE:BK], the company’s sales were 33.80B for trailing twelve months, which represents an 53.80% jump. Gross Profit Margin for this corporation currently stands at 0.97% with Operating Profit Margin at 0.17%, Pretax Profit Margin comes in at 0.19%, and Net Profit Margin reading is 0.15%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.08 and Total Capital is 0.01. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.59.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 57.20 points at the first support level, and at 56.73 for the second support level. However, for the 1st resistance point, the stock is sitting at 57.92, and for the 2nd resistance point, it is at 58.18.
Bank Of New York Mellon Corp [BK] reported earnings per share of $1.28 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.13/share, meaning a difference of $0.15 and a surprise factor of 13.30%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $1.27 per share as compared to estimates of $1.15 per share, a difference of $0.12 representing a surprise of 10.40%.
Ratios To Look Out For
It is important to note that Bank Of New York Mellon Corp [NYSE:BK] has a current ratio of 1.73. Considering the valuation of this stock, the price to sales ratio is 1.29, the price to book ratio is 1.20 and price to earnings (TTM) ratio is 14.49.
Transactions by insiders
Recent insider trading involved Keating Catherine, Sr. Exec. Vice President, that happened on Feb 08 ’24 when 4498.0 shares were sold. Sr. Exec. Vice President, Keating Catherine completed a deal on Jan 16 ’24 to sell 31322.0 shares. Meanwhile, Sr. Exec. Vice President Smits Hanneke sold 15425.0 shares on Jan 16 ’24.
